This script combines On Balance Volume (OBV) with a customizable moving average and Bollinger Bands to highlight momentum shifts and potential buy/sell areas. The OBV Oscillator identifies buying and selling zones when it crosses predefined thresholds. Bollinger Bands provide additional context by highlighting volatility.
Key Features:
OBV Oscillator: Identifies momentum shifts by comparing OBV to its moving average. Buy/Sell Areas: Triggered by OBV Oscillator crossing thresholds. Smoothing with MAs & Bollinger Bands: Provides visual smoothing and volatility bands for clearer trade signals. Customizable: Adjust the moving average type and Bollinger Bands parameters.